Zain Kuwait Resolves Dispute with Bharti Airtel with $129m Settlement

7 November 2016
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Zain Kuwait Resolves Dispute with Bharti Airtel with $129m Settlement Image Credit: Airtel

Zain Telecom has agreed to pay Bharti Airtel $129m over a settlement related to sale of its assets in 17 African countries. Airtel had bought Zain Telecom's assets in 17 African countries in 2010 for $10.7 billion.

After acquiring Zain’s telecom business, Airtel ran into dispute with Econet Wireless – a minority stakeholder in Zain Telecom. 

“Bharti Airtel (Netherlands) BV, and Zain Telecom, have reached an agreement, pursuant to which Zain is to pay to Airtel approximately $129 million for the settlement of all of Airtel’s claims on account of the Nigeria Litigation, certain tax matters and associated legal costs,” said Airtel in a statement.

A separate settlement has also been reached between Airtel and Econet Wireless settling all claims, disputes whatsoever, between the two including in Nigeria and the Netherlands.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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